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Pharmaceutical

Demand For Computed Tomography Image Guided Surgery Is Anticipated to Expand at a Healthy CAGR of 6.0% Over The Assessment Period

With the growing incidences of chronic conditions such as neurological disorders, cancer and other life-threatening diseases, the Demand for image guided surgery devices is set to gain traction and is anticipated to expand at a healthy CAGR of 6.0% across the forecast period (2020-2025). This growth is attributed to a burgeoning preference for minimally invasive surgical procedures which are expected to generate better clinical outcomes.

In addition, there are a growing number of partnerships between public and private entities to further research on image guided surgery devices and implement the same in different healthcare settings. Based on these trends, the global image guided surgery devices market is prophesied to accelerate and enjoy a robust growth rate. However, the onset of the COVID-19 pandemic shall hamper growth prospects, owing to deferment of elective surgical procedures in favor of addressing the immediate healthcare needs of COVID-19 patients.

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“The global image guided surgery devices market is poised to register positive growth, attributed to rising preference for minimally invasive surgeries over open surgery. As a result of this increased acceptance, technological innovations in image capturing have occurred. Moreover, market players are concentrating on capturing lucrative markets to maximize their revenue,” concludes a Fact.MR analyst.

Key Takeaways of Global Image Guided Surgery Devices Market Study:

  • By device type, CT scanners shall capture a major chunk of the market, amounting for more than one-fourth, while MRI devices are anticipated to account for more than 20% of the market. Ease of needle positioning and catheters shall facilitate increasing adoption of CT scanning while easy distinction between normal and malignant tissues shall drive the MRI segment.
  • By application, neurosurgeries shall dominate the market, capturing nearly 30% of the share while oncology is anticipated to surpass neurosurgeries in terms of growth, expanding at a CAGR of 7.0%. This is attributed to rising prevalence of cancers and advancements in cancer detection systems.
  • By end-user, the clinics segment shall grow the fastest, recording a 7.1% CAGR across the forecast period. Rising number of specialty clinics to perform minimally invasive procedures for detection of diseases is anticipated to steer the growth of this segment.
  • By region, North America shall retain its dominance in the market. The region shall account for more than 2/5th of the global image guided surgery devices market share. However, the Asia-Pacific is anticipated to outdo North America, expanding at a CAGR of 7.0%. Increasing population pool with chronic and infectious diseases has leveraged demand for minimally invasive procedures within Asia-Pacific.

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global image guided surgery devices market 2

Global Image Guided Surgery Devices Market: Segmentation

Device Type

  • Computed Tomography (CT) Scanners
  • Ultrasound Systems
  • Magnetic Resonance Imaging (MRI)
  • Endoscopes
  • X-ray Fluoroscopy
  • Position Emitted Tomography (PET)
  • Single Photon Emission Computed Tomography (SPECT)

Application

  • Cardiac Surgery
  • Neurosurgery
  • Orthopedic Surgery
  • Urology
  • Gastroenterology
  • Oncology Surgery
  • Others

End-user

  • Hospitals
  • Ambulatory Surgical Centers
  • Clinics
  • Research & Academic Institutions

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COVID-19’s Impact on the Market:

The ongoing COVID-19 pandemic has generated widespread disruptions in production cycles across several business domains. Strict social distancing measures implemented by countries across the world have compelled businesses to provide remote working arrangements and shutting down of production units. With the number of cases increasing on a daily basis, the healthcare industry has been facing immense pressure regarding treatment of infected patients. As hospitals and clinics face increasing shortages of beds and essential medical equipment such as ventilators, key healthcare companies are directing all their resources in producing such equipment, resulting in partial or complete cessation of its other activities.

The global image guided surgery devices market is also anticipated to take a dip as patients are delaying their elective surgical procedures regarding chronic conditions to provide greater room for treating COVID-19 patients. In this regard, GE Healthcare is accelerating production of its CARESCAPE R860 ventilators to hospitals and clinics. This is poised to shift focus away from the production of image guided surgery devices, causing a downturn in the market.

Following Questions Answers Covered in the Report are:

  • How will the global Image Guided Surgery Devices Market perform during the forecast period? What will be the market size in terms of value and volume?
  • Which segment will drive the global Image Guided Surgery Devices Market? Which regional market will show extensive growth in the future? What are the reasons?
  • How will the market dynamics change because of the impact of future market opportunities, restraints, and drivers?
  • What are the key strategies adopted by players to sustain themselves in the global Image Guided Surgery Devices Market?
  • How will these strategies influence the market growth and competition?

Regional analysis includes

  • North America (U.S., Canada)
  • Latin America (Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
  • EU – (Germany, France, Italy, Spain), UK, BENELUX (Belgium, Netherlands, Luxemburg), NORDIC (Norway, Denmark, Iceland, Sweden), Eastern Europe (Poland, Ukraine, Czech Rep. etc.), Rest of Europe
  • CIS & Russia
  • Japan
  • Asia Pacific Excluding Japan (Greater China, India, S. Korea, ASEAN Countries, Rest of APEJ)
  • Middle East and Africa (GCC Countries, Turkey, Iran, Israel, South Africa , Rest of MEA)

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The Report Covers Exhaustive Analysis On:

  • Market Segments
  • Market Dynamics
  • Market Size & Demand
  • Current Trends/Issues/Challenges
  • Competition & Companies involved
  • Technology
  • Value Chain

Global Guided Surgery Devices Market Competition Landscape:

The global image guided surgery devices market is highly consolidated, with the top four market players accounting for over 70% market share. GE Healthcare, Medtronic, Siemens Healthineers and Koninklijke Philips N.V. are the key market players. GE Healthcare is the leader in the image guided surgery devices market, producing a range of dedicated systems for image guided surgeries such as Innova and Optima image guided surgery product series.

Medtronic accounts for the second largest share, attributed to preference of healthcare providers for its O-ARM and StealthStation product portfolio. A strong focus on organic growth strategies through expansion of business units is important for the abovementioned market players to consolidate their foothold in the market. For instance, in April 2017, GE Healthcare signed an agreement with HealthTrust to provide low energy (SPECT) and high energy (PET) radiopharmaceuticals to the latter across the U.S.

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